Top Stories
National Grid’s Massachusetts utilities submit clean energy investment plan
Published by Jessica Weisman-Pitts
Posted on November 17, 2023
2 min readLast updated: January 31, 2026
Global Banking & Finance Review®
Company
Published by Jessica Weisman-Pitts
Posted on November 17, 2023
2 min readLast updated: January 31, 2026
(Reuters) – Britain’s National Grid said on Friday its two utility firms in Massachusetts have submitted a clean energy
(Reuters) – Britain’s National Grid said on Friday its two utility firms in Massachusetts have submitted a clean energy investment plan to authorities in the U.S. state as part of the group’s required rate case filing.
Utility companies in the United States use rate case proceedings with the respective regulators to address a revenue shortfall and ask for an increase in rates on the basis of the total cost of providing service.
If approved, the plan filed by Massachusetts Electric Co and Nantucket Electric Co would see a $4.86 increase in monthly bill for a residential customer with the usage of 600 kilowatt hours per month over the five-year investment period, National Grid said in a statement.
The company, which runs Britain’s energy systems and operates electricity and gas businesses in New York and Massachusetts, has been trying to transition to more renewable power generation and speed up its clean energy projects as global economies target net-zero emissions.
The company said the plan sets the foundation for investments that are part of its Future Grid project, which aims to transform the electric grid in Massachusetts to provide cleaner energy.
The company expects the rate changes to take effect on Oct. 1, 2024, with new bills being issued from Nov. 1.
(Reporting by Aby Jose Koilparambil and Tanay Dhumal in Bengaluru; editing by Eileen Soreng)
A clean energy investment plan outlines the strategies and financial commitments made by utility companies to enhance renewable energy sources and improve energy efficiency.
A rate case filing is a formal request submitted by utility companies to regulatory authorities to adjust their rates based on the costs of providing services.
Renewable energy is energy derived from natural sources that are replenished at a faster rate than they are consumed, such as solar, wind, and hydroelectric power.
The Future Grid project is an initiative aimed at transforming the electric grid to support cleaner energy generation and enhance overall energy efficiency.
Energy investments can lead to changes in utility rates, which may result in higher or lower monthly bills for consumers depending on the nature of the investments.
Explore more articles in the Top Stories category
